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Project Name                     Uni Homes Name of Builder               Unitech Limited Project Type                       Residential Apartment Price                                      As below Location                               Kolar Road, Bhopal Agent                                    Shri Aditya Estates  Apart from the Basic Consideration Price following amounts are payable by the Allottee(s): Preferential Location Charges for Ground Floor Rs. 1,00,000/- Rs. 1,30,000/- Preferential Location Charges for First Floor Rs. 50,000/- Rs. 65,000/- Preferential Location Charges for Second Floor Rs. 25,000/- Rs. 32.500/- Preferential Location Charges for Garden Facing Rs. 30,000/- Rs. 40,000/-   Society Maintenance Rs. 18,000/- Rs. 21,600/- Interest Free Maintenance Security Deposit (IFMSD) Rs. 15,000/- Rs. 20,000/- External Electricity Charges (including Meter) &Water Installation Charges Rs. 50,000/- Rs. 60,000/  Car parking allotment will be on first come first serve basis. Society Maintenance has been calculated at Rs. 500/- per month for 36 months for 2 BHK and
Rs. 600/- per month for 36 months for 3 BHK. This might vary as per the norms decided later. Company would pay charges @ Rs. 5/- per sq. ft. of the Super Area per month for any delay attributable to the inability  of  the  Company  subject  to  Force  Majeure,  on  the  handing  over  of  the Apartment  beyond the committed period of 24 Months from the date of signing of Terms & Conditions of Allotment till the date of issue of notice of possession. Similarly, the Allottee(s) would also be liable to pay holding charges @Rs. 5/- per sq. ft. of Super Area per month if the Allottee(s) fails to take possession within 21 days from the date of issuance of the notice of possession. Option for limited power back-up is provided in each apartment. Please refer to application form for details. The above Prices / Payment Plans are subject to revision / withdrawal at any time without notice and at the sole discretion of the Company. Registration  and  stamp duty charges, as applicable for required documents shall be payable extra by the Allottee(s). For More info Log on to http://www.zameen-zaidad.com/uni-homes-bhopal.aspx  

Project Name              Omaxe Enternity

Name of Builder         Omaxe Ltd.

Project Type                Residential Flats

Price                            As below

Location                      Chhatikara Road,Virndavan

Agent                          Shri Aditya Estates

Structure

Earthquake Resistant structure External Finish Combination of long- lasting paint, Water repellent glazing  

DINNING & DRAWING ROOM

Floor Vitrified Tiles Kajaria / Euro/ Nitco Walls Plastered and painted with pleasing shades of O.B.D Asian/ Berger/ Nerolac Ceiling Plastered and painted with pleasing shades of O.B.D. Asian/ Berger/ Nerolac

STAIRCASE

Floor Udaipur Green Marble   Walls Plastered and painted with pleasing shades of O.B.D. Asian/ Berger/ Nerolac Ceiling Plastered and painted with pleasing shades of O.B.D.

BEDROOM

Floor Vitrified Tiles Kajaria / Euro/ Nitco Walls Plastered and painted with pleasing shades of O.B.D. Asian/ Berger/ Nerolac Ceiling Plastered and painted with pleasing shades of O.B.D. Asian/ Berger/ Nerolac  

KITCHEN

Platform Pre-polished Granite Top Platform with stainless steel sink. Sink-Frankee/ Jayna Wall Ceramic Tiles upto 2 feet height above Platform   Fixture/ Fittings Gas hub (Provision for Chimney) / Electric Plate Faber/ KAFF/GLEN

BALCONIES

Floor Anti Skid / Ceramic Tiles Kajaria / Euro/ Nitco Walls Combination of long- lasting water repellent paint. Asian/ Nitco/   Spectrum Ceiling Plastered and painted with pleasing shades of O.B.D Asian/ Berger/ Nerolac  

TOILET

Walls Dado of Glazed/Ceramic tiles up to ceiling height. Kajaria / Euro/ Nitco Floor Glazed / Ceramic Tiles Kajaria / Euro/ Nitco Fittings/Fixtures Geyser, Shower, Wash basin, Wall hung W.C., Towel Rail, Hot & Cold water system,Exhaust Fan Geyser- Recold/ Bajaj / Venus / Sanitary ware- Hindware/ Parryware Classica/ C.P.Fitting- Jaguar/ Marc/ Parko  

DOORS & WINDOWS

Entrance & Internal Doors Seasoned Hardwood Frames with both side Teak finish flush doors   Windows Powder coated glazed Aluminum with Mosquito Wire Mesh Shutter  Aluminum – Hindalco/ Jindal/ Mahavir

For more info log on to http://www.zameen-zaidad.com/omaxe-enternity-virndavan.aspx

A luxurious residential apartment going to be developed by Orris Infrastructure Pvt. Ltd in Gurgaon Sec 85. Carnation Residency is a conveniently located modern group housing project spread over 26 Acres. Carnation residency is offering a charming blend of contemporary India Living with the best of modern amenities to ensure warm and lavish living with luxuries. Carnation Residency is strategically located in Sector 85, New Gurgaon, around 1 KM from NH 8….

Homes for contemporary living
•          100% power backup
•          Ultra-modern facilities
•          Landscaping by international architect Nelson, USA

Geared for ultimate safety
•           24x7x365 gated security
•           Earthquake resistant buildings
•           Rain water harvesting

Giving you tomorrow's lifestyle: Club Facilities

•           Multipurpose room
•           Swimming pool
•           Gymnasium
•           Library

Common facilities
•           High speed lifts
•           Convenient & daily need shops
•           Water bodies in green areas

Other facilities
•           Play school
•           Primary school
•           Children park & water bodies
•           Paved path ways & central park
•           Sand pits for kids, swings
•           Dedicated car parking

Compact & efficient layout for 2, 3, & 4 bedroom apartments.
•           Areas offered:
            -           2 Bhk 1050 Sq.ft
            -           3 bhk 1350 sq.ft
            -           3 bhk + servant 1500 sq.ft
            -           4 bhk 1800 sq.ft

For further Details please feel free to log on to

http://www.zameen-zaidad.com/orris-business-square-gurgaon.aspx

Parsvnath Exotica Located in Gurgaon, Sector 53, the project distance is only 20 minutes drive from the IGI airport. Exotica comprises of 3-6 bedroom fully AC apartments in an 18 towers complex. Spread across 28 acres of prime real estate, the project overlooks the DLF golf course thus offering a spectacular view.

High-end specifications like imported marble flooring, modular kitchen, piped gas supply coupled with lifestyle amenities such as swimming pool, gymnasium, squash, badminton & tennis courts are the premiums of this project.

The Exotica actualize the dream of living in lush green surroundings, it resembles a place that is serene yet captivating, majestically modern yet remotely silent, a perfect atmosphere to soothe your nerves and stimulate your mind. It is a premium residential development, offering a rare blend of a luxurious life style, good design and skilled craftsmanship.

For more info log on to http://www.zameen-zaidad.com

                                                And http://www.propertycafeteria.com/main.aspx

Ansals Florence Marvel – the address of regency, the symbol of class. Located amidst the picturesque surroundings of Sushant Lok II & III, Florence Marvel is an abode of peace and tranquility. Built on a plot of approx. 300 sq. yds, these magnum – sized two-storied independent luxurious villas have a built-up area of approx. 3469 sq. ft. Take a close look, and you might end-up falling in love with it.

Each member of your family has separate leisure rooms with attached bath, which also has escapes to independent balconies for sharing individual moments of bliss. The master bedroom comes with an added advantage of adjoining dress and spacious bathroom with Jacuzzi, which elevates the pleasure of bath to a rejuvenating experience. Allow your kids to create their own world in a comfortable kid’s room, which is spacious enough for you to turn it into a vibrant living arena. You always have been a silent admirer of your second bedroom because of its position, flooring and shades. Its secluded balcony invites you to enjoy the pristine and invigorating natural beauty. The highlight of the planning of each module is sheer independence, which creates an uncluttered living environment and also merges seamlessly with the whole ambience.

For more info log on to http://www.zameen-zaidad.com

                                                And http://www.propertycafeteria.com/main.aspx

The govt. of India has started implementing home loan interest subsidy scheme for a loan of Rs10 lakhs for a home having a value for not more than Rs20 lakhs. The interest subsidy has come into force w.e.f. 01.10.2009. This scheme will be available till 30.09.2010. The rate of  interest subsidy is for 1%.  It is a good move by the govt. This will boost the real estate sector. It will have the  real effect on real estate sector when the limit of home loan is enhanced from Rs10 lakhs to Rs25 lakhs as average home loan amount required for middle class people is around Rs25 lakhs. If the ceiling of home loan amount for interest subsidy remains Rs10 lakhs, the benefit will go to a few home  buyers. The effect of the present scheme will not be much as price of houses are in the range of Rs25-30 lakhs in most of the present projects and the home loan requirement for such apartment will be Rs20-25 lakhs. Even in the most affordable projects of leading builders and developers the price of apartment is more than Rs25 lakhs and home loan requirement will be Rs20 lakhs or so. For percolating the benefits of home loan interest subsidy, the govt. should amend the present norms and enhance the ceiling at least to Rs25 lakhs to give real effect on real estate sector.

All the lending banks and financial companies should publicize the availability of home loan interest subsidy scheme of govt. of India so that more and more people should know about it and avail this benefit.

The period of availability of this scheme should also be increased from one year to five years to give long term effect on real estate sector. If govt. of  India foregoes some revenue in the form of extending home loan interest subsidy, it will get many more other benefits when there is increase in sale of  dwelling units. Increase in sale of dwelling units will increase the demand of  steel and iron, cement, bricks, etc. It will also increase the demands of other household items like furniture, paints, furnishing items, etc. Increase in sale of these items will bring more revenues to govt. in the form of sale tax, etc. When more houses are sold and owned by people, govt. will get more manifold revenues in the form of property tax as comparison to the home loan interest subsidy given by the govt. Thus to earn more revenues and to give boost to real estate sector, the govt. should come forward with more liberal home loan interest subsidy scheme. 

‘Marina Floors’ project has been promoted by Pal Infrastructure & Developers Pvt Ltd. It is strategically located in Sector 70 A, Sohna Road, Gurgaon in the close vicinity of national capital. This project has low-rise floors. Home buyers, living with their old parents, will prefer to buy homes in this low-rise floors project. Prices of apartments in this project are affordable starting from Rs19.90 lakhs for 3 BHK apartment. This project has facilities of Club, Greenery, Shopping Centre, Public Transport, Power Back-up, Security and School.

Pal Infrastructure & Development Pvt Ltd is a venture of Pal Group. Pal Group has a strong presence of over a decade and has carved a niche for itself in the real estate development and construction. Over the last couple of years, Pal Group has consistently set quality benchmarks in real estate development and is creating world-class group housing and commercial space in prime locations and is coming up with well planned townships & IT Parks. Founded with a vision of providing excellent life spaces and international living standards to its customers, Pal Group has always struck a vital balance between closeness to nature and modern lifestyle.

We, Shri Aditya Estate, are one of the leading real estate consultants, established in Delhi and working successfully for more than a decade. We have developed well-embellished websites viz. www.zameen-zaidad.com, www.propertycafeteria.com with a clear concept to showcase all kinds of properties of our patrons for wider publicity of their products for sale/purchase, leasing and renting purposes. Our website – www.zameen-zaidad.com - is displaying the details of project of  ‘Marina Floors’ Gurgaon. Homes for sale are available in ‘Marina Floors’ Gurgaon. For best and transparent deals for apartments in ‘Marina Floors’ project in Gurgaon, our experienced marketing executives can  be contacted  at  mob no 91-9650398925, 9810445860, 9911158601, 011-42470622  or email at : info@zameen-zaidad.com. Our company is on the approved list of leading banks/financial institutions for grant of home loans. We have got an experienced team to process home loan applications. For hassle-free home loans for apartments in ‘Marina Floors’ project in Gurgaon, our executives can be contacted at mobile no 91-9990217028, 9810445860, 011-47082736 or email at : info@zameen-zaidad.com.

For more info log on to http://www.zameen-zaidad.com

                                    And http://www.propertycafeteria.com/main.aspx

K Raheja Universal, specializing in premier real estate development in the city, has sold off its high-end commercial building called Raheja Chromium at Prabhadevi to Motilal Oswal Securities for Rs 156 cr.  

The six-storied building would now be used as Motilal Oswal’s corporate office. The transaction was concluded last week.  

With prominent frontage on Gokhale Road, the property is in the precinct of premium commercial developments of Prabhadevi and Senapati Bapat Marg.

The Bandra- Worli Sea Link has added to the connectivity and prominence of this location.

“The project is benchmarked with global standards and features like elegant glass façade, well planned spacious offices, private terraces, high - speed elevators, landscaped areas and ample parking,” a Raheja official said.

Courtesy:- HT Business dt:- 05-10-09

Real estate firm parsvnath developers said it raised Rs. 168 cr through a share sale to institutions. The firm has issued up to 13.86 million shares at Rs 121.25 each, it said in a statement to the stock exchange.

Parsvnath Developers Limited a leading real estate developer in India has a PAN - India presence and an experience of more than 17 years in offering state of the art construction in 48 cities and 17 states with across key verticals of real estate industry. It is the most diversified and widespread real estate developer in India with 115 ongoing projects with a developable area of over 159.84 mn sq.ft. All across verticals. Trusted over 20 years with sound reputation for giving shapes to dream houses and delivering maximum value for money in the properties developed by them.

 For More Details :- http://www.zameen-zaidad.com            and

                                    http://www.propertycafeteria.com

In an attempt to shore up credit demand, banks are rolling out festival schemes for home loans ahead of Diwali. Deals include teaser rates for initial years, with some lenders giving an option to shift to either fix or floating rates later. Lenders like Canara Bank, Bank of Maharashtra and Dena Bank are offering fixed-rate loans for the first five years, and later, linking the loans to their prime lending rates.

IT’S THE PSU BANKS THAT OFFER COMPETITIVE RATES THIS ROUND, PVT PEERS MAY JOIN SOON

Banks sweeten home loans with festival offers

In An attempt to shore up credit demand, banks are rolling out festival schemes on home loans ahead of Diwali. Deals include teaser rates for initial years, with some lenders giving an option to shift to either fix or floating rates in subsequent years.

Lenders like Canara Bank, Bank of Maharashtra (BoM) and Dena Bank are offering fixed-rate loans for the first five years, and subsequently, linking the loans to their prime lending rates. While others like Bank of India are offering fixed-rate loans for the first two years. India’s largest bank SBI is offering fixed rates for the first three years. The competition to gain market share has resulted in a small price war.

On Thursday, Development Bank of Credit introduced a fixed rate of 7.95% for the first year — the lowest, at least, for the first year. From the second year onwards, the home rates will be linked to floating rate loans. BoM and Dena Bank offer a fixed rate of 8% for loans up to Rs 30 lakh in the first two years, while Canara Bank offers 8% in the first year for Rs 30 lakh and SBI offers 8% for the first five years for loans up to Rs 5 lakh. Most banks have also waived off the processing fee during the festival season.

Traditionally, home sales peak ahead of the academic year in June, with families looking out for new homes during summer vacations. However, this year’s summer sales were flat due to uncertainties. Now, builders and lenders are making a fresh pitch to push sales during Diwali through limited period offers. Interestingly, the offers are coming largely from PSU banks. HDFC, ICICI Bank and LIC Housing have not yet announced any festival offers, but announcements closer to Diwali are not ruled out either. The three lenders charge interest at 8.75% on their lower-end loans.

Bank officials are hopeful that the retail credit growth will contribute substantially for the credit demand in the third quarter of this fiscal year. Most offers are till December 31, 2009. “The demand for home loans is better than the past years. But at the same time, we are seeing many applications which are transfer cases (from another bank),” said AC Mahajan, chairman and managing director of Canara Bank.

Banks like SBI, Canara Bank, BoM, BoI and Dena Bank are offering fixed-rate loans for the initial years. However, banks like BoB and PNB are offering fixed rates, besides giving floating rate loans.

Courtesy:- ET dt:- 05-10-09

HDFC Asset Management Company has picked up 10% stake in Bangalore-headquartered real estate firm Nitesh Estates for Rs 100 cr, said banking sources privy to the development. The transaction comes at a time when Nitesh Estates is working towards an initial public offering in the last quarter of the current fiscal.

Sources said the transaction at discounted price was a pre-IPO placement with HDFC arm planning to offload shares at the time of the issue or anytime in the next one year. The deal clinched over the weekend may have come at 15-20% discount. KPMG and J Sagar Associates were advisors to the transaction.

The company’s executive director L S Vaidyanathan declined to comment.

As reported earlier, the decade-old Nitesh Estates IPO this month end or in early November. Kotak, Enam, JM Financial and Morgan Stanley are advisors to the proposed IPO, sources added. The 32 year-old promoter Nitesh Shetty, a first generation entrepreneur, and private equity giant Och-Ziff will see their holdings drop to 57% and 9%, respectively after the public offering, which will involve fresh issue of shares. Mr Shetty holds 75% and Och-Ziff has 15% in the firm currently. Nitesh is among the 4-5 realty firms that are actively working towards a public issue in the next six months—others being Godrej Properties, Emaar MGF, Lodha Properties and Sahara India.

Nitesh Estates has over 8 million sq ft of ongoing projects in Bangalore, Kochi, and Chennai in Goa. Besides 19 residential projects in the pipeline, the company is also developing India’s first Ritz Carlton property in Bangalore and two large mixed use projects in Chennai and in Kochi. While the IPO proceeds will be deployed into projects under development, the company is also in the midst of roping in private equity partners for some specific projects. Last year, HDFC Property Ventures, a real estate fund, had invested $20 million in the company’s upcoming mall project at Indiranagar in Bangalore.

Courtesy:- ET dt:- 06-10-09

Affordability factor and lower EMIs act as reasons for people to opt for 2 BHK residential apartments making these the fastest moving segment in housing industry

Did you know that smaller apartments are selling big? The maximum demand currently is for 2BHK residential apartments and finally supply is following demand. Such has been the response that there are developers who claim as much as 55% of their inventories comprise two bedroom units.

According to Atma Sharan, GM (Marketing), Ashiana Housing Ltd, "About 55% to 60% inventory would be 2BHK. This definitely is the fastest moving segment, particularly among first home buyers who are at the beginning of their careers and married life."

The 2BHK end user is attracted by the price tag, affordability factor, and lowers EMIs. His is likely to be a nuclear family with small kids where a third bedroom is not a necessity and hence not worth additional cost. According to Harinder Dhillon, GM Marketing from Raheja Developers Pvt Ltd, "The maximum demand for two bedroom unit is from middle-income group nuclear families. A two bedroom home buyer is typically a middle class salaried employee hailing across sectors of government employees, school teachers, or BPO, IT, banking and service sectors, as well as middle-level self-employed professionals." He adds that at least 30% of their inventory now is 2BHK.Actually it is the affordability factor that is attracting most of the buyers.

Several developers who were primarily focusing on plush housing earlier are including smaller units in a big way in their projects. They are coming up with new initiatives in this line which is expected to attract the young service class people in a big way. So, be it DLF, Unitech, or Jaypee, they all have at least 30% inventories as two bedroom units in their projects and plan to increase the percentage with time.

Jaypee Greens recently launched reasonably priced housing projects - Jaypee Kosmos and Jaypee Aman. The latter, claims Manu Goswamy, head business development, was sold out within 24 hours and smaller units of two bedrooms were a big hit. Says Goswamy, "Our 2BHKs are doing particularly well as they tend to attract the first-time buyer who is young in age and has just begun his married life or professional life. Our parents' generation retired in their own home while our generation starts out in their own homes." Investors are also found interested in this segment. A 2 bedroom unit is eliciting interest from a lot of second home buyers. Says Atma Sharan," A typical investor would also find a 2 BHK more appropriate as it would be easier to liquidate and may also give higher rental returns per sq ft or initial cost to rental ratio. Besides, in the rental market too there is a higher demand for 2BHK apartments, and getting tenants is easier and faster." Some developers are specifically keeping the price tag lower than Rs 20 lakh, so that the investor can par take the benefit of lowering of interest rates on home loans below Rs 20 lakh.

However, many more such units are required to enter the market to really bridge the demand-supply gap in smaller units’ category. According to Devinder Gupta, CEO of Century 21, a real estate consultancy, "Bulk buyers fall in the 2BHK segments as it fits their requirement, given its financial implication. Moreover, government is also giving fiscal incentives to the buyers who are going for 2BHK. As it constitute a bulk of buyers, mainly service class, builders should devote more inventory on this segment as there is still a shortage in this category." Size of a 2BHK unit available in the market: While the size ranges from 750 sq ft to 1,400 sq ft, their price varies between Rs 16 lakh and Rs 30 lakh. For instance a 2BHK unit at Ashiana Aangan at Bhiwadi of 1,200 sq ft will cost anywhere between Rs 22 lakh and Rs 28 lakh, depending on the floor and the payment terms (installment or down payment). The size of this unit at Raheja Builders varies from 1,200 to 1,400 sq ft, and available in the price band of Rs 2,475 to Rs 2,875 per sq ft, depending upon location, specifications and facilities. At Alpha G Corp in their Karnal Township, the size of a two bedroom unit would be between 1,100 and 1,200 sq ft, with the price being approximately Rs 20 lakh, depending upon the parameters at the time of booking, launch and facilities. At Jaypee price ranges from Rs 22 lakh and Rs 30 lakh. So, as one can see, there is so much variation in the market. A two-bedroom unit is now becoming available at different sizes as well as price points.

However Alpha G Corp's Prodipta Sen cautions that end users buying 2BHK must beware of some developers who are "only looking at encasing on the big bubble called 'affordable housing' as they find their premium residential projects not selling. However, those who are keen and believe that providing housing of 2BHKs will be the fastest moving product provided it is value-for-money."

Courtesy:- ET Realty dt:-25-09-09

Shares of Delhi-based Parsvnath Developers zoomed 16% on Wednesday puzzling analysts who had expected that a lower than-planned fundraising via qualified institutional placement (QIP) could affect the stock.

Parsvnath shares closed at Rs 144.85 on Wednesday. Parsvnath Developers, which now has a market cap of Rs 2,660 crore, planned to raise $150 million via QIP, but later settled for just $35 million. A senior executive at Parsvnath said the company didn’t immediately need more funds. He added that 60% of the funds raised will be used to retire debt and the balance for the execution of existing projects.

Fidelity, Morgan Stanley and American Century were among those who invested in the Parsvnath’s QIP.

“I’m puzzled at the way stock has risen on news which should have been seen as negative,” said Shailesh Kanani, a real estate analyst with Angel Broking. Another analyst with domestic brokerage said there could be some other trigger for the stock to rise so much.

A company executive said the fundraising has eased the liquidity scenario prompting the market to re-rate the firm’s scrip.

Courtesy:- ET dt:- 01-10-09

The Bangalore-based real estate firm Nitesh Estates is planning to rise up to Rs 550 crore by this year-end through an initial public offer (IPO) for which it plans to approach market regulator Securities and Exchange Board of India (SEBI).

Nitesh Estates, which has a prominent presence in south India, is learnt to have appointed investment bankers Morgan Stanley, Enam, Kotak and JM Financial to sell the proposed initial public offering. According to a senior banker, who is involved in the deal, the company would divest around 35% of its stake, pegging the company’s valuation at around Rs 1,600 crore. A spokesperson of the company refused to comment. “The company would file the DRHP by October-end. So, the company could get Sebi’s green signal by November,” said the banker.

According to a highly-placed source, the company has also appointed two senior officials, from Citigroup and a Middle East-based PE firm, respectively, as directors. A company official confirmed that James Brent, the former global real estate head of Citi Group, and Ashok Aram, managing director, Abraaj Capital, the largest PE fund in the Middle East, have joined as directors in Nitesh Estates.

Of the 35% stake, around 10% stake would be diluted through a pre-IPO placement. The banker added that the pre-IPO transaction could fetch anywhere around Rs 100 crore. Up to 2% would be awarded to senior and middle level managers in the company as Esops. The promoter holding in the firm will come down to around 53-57% post the issue. Private equity giant Och-Ziff, which had invested $51 million for a 15% stake, will dilute around 5% after the IPO, said the banker. Sources say the IPO the price band is expected to be anywhere around Rs 115-145 per share. The IPO proceeds will be invested in 19 ongoing residential projects, including a central business district mall in Bangalore and a large mixed-use project in Kochi. The company also has high-end projects in Goa, where some of the proceeds could be used. It is also learnt that the company could go in for a fresh round of divestments to potential private equity investors at the SPV (special purpose vehicle) level. For this purpose, the company is believed to be in talks with a couple of international PE funds. Nitesh Estates is one of several firms which have decided to hit the capital market enthused by the northward trend of the stock market.

Courtesy:- ET dt:- 29-09-09

In revived market conditions, four realty firms, Emaar MGF, Sahara Prime City, Lodha Developers and Ambience Ltd, have lined up with their draft red herring prospectuses for initial public offers (IPO) of shares.

They filed their papers with the Securities and Exchange Board of India (SEBI), on Tuesday to raise a combined amount of nearly Rs 11,000 cr.

The fund-raising programmed is likely to help them reduce debt while pushing up their current and forthcoming projects.

Sahara plans to raise close to Rs 3,450 cr, "The company plans to raise Rs 3,450 cr through the IPO to fund its projects," said a source close to the development.

Emaar MGF, Lodha Developers and Ambience have plans to raise close to Rs 3,850, Rs 2,500 cr and Rs 1,293 cr respectively.

While Sahara's realty arm has been planning its IPO over the past two years, Emaar MGF is making its second attempt to get listed at the bourses after its IPO plans to raise Rs 6,461 cr in February 2008 failed on account of poor subscription and adverse market conditions.

Emaar has brought down the size of its IPO to close to half of what it planned initially.

Courtesy:- HT Business dt:- 30-09-09